Bitcoin ETF Flow (US$ million) – 2024-07-29
— Farside Investors (@FarsideUK) July 30, 2024
TOTAL NET FLOW: 124.1
(Provisional data)
IBIT: 205.6
FBTC: -5.9
BITB: -21.3
ARKB: 0
BTCO: 0
EZBC: 0
BRRR: 0
HODL: 0
BTCW: 0
GBTC: -54.3
BTC:
For all the data & disclaimers visit:https://t.co/4ISlrCgZdk
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Crypto ETF: Bitcoin Rakes in $124.1M, Ethereum Tumbles
Wed 31 Jul 2024 ▪
3
min read ▪ by
Getting informed
▪
Invest
The crypto ETF market is experiencing contrasting dynamics. While Bitcoin ETFs are massively attracting investors, exchange-traded funds linked to Ethereum are struggling to convince. This divergence raises questions about market exposure and investment strategies in the cryptocurrency sector.
Bitcoin ETFs Riding the Wave of Enthusiasm
In recent days, Bitcoin ETFs have particularly benefited from the drop in BTC price to $66,000. The latest data from Farside indeed reveals an impressive inflow of $124.1 million to Bitcoin ETFs on July 29.
BlackRock’s IBIT stands out with a capital inflow of $205.6 million in a single day. This remarkable performance brings IBIT’s total net inflows to $19.9 billion, thus confirming BlackRock’s leading position in the market.
Other exchange-traded funds, on the other hand, recorded significant capital outflows:
- BITB from Bitwise: $21.3 million
- FBTC from Fidelity: $5.9 million
Ethereum Struggles to Convince: These Exchange-Traded Funds are Undergoing Massive Outflows
In contrast, Ethereum ETFs are facing headwinds and are in free fall. Farside reports a substantial outflow of $98.3 million on the same day. This is mainly due to Grayscale’s ETHE, which saw $210 million evaporate. This trend leads to a total outflow of $1.7 billion from ETHE, revealing a certain mistrust among investors.
However, some issuers manage to pull through. Such is the case with BlackRock’s ETHA ETF, which recorded an inflow of $58.2 million.
The data reveals an important point: the crypto ETF market is currently undergoing an intense maturation phase. The evolution of these trends will undoubtedly shape the landscape of crypto investment in the coming months.
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Je m'appelle Ariela et j'ai 31 ans. J'oeuvre dans le domaine de la rédaction web depuis maintenant 7 ans. Je n'ai découvert le trading et la cryptomonnaie que depuis quelques années. Mais c'est un univers qui m'intéresse beaucoup. Et les sujets traités au sein de la plateforme me permettent d'en apprendre davantage. Chanteuse à mes heures perdues, je cultive aussi une grande passion pour la musique et la lecture (et les animaux !)
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.